Unbiased.co.uk: equity release inquiries accelerate in 2011

Retirement planning was the most popular topic for consumers seeking independent financial advice last year, according to unbiased.co.uk’s Advice Drivers report.

Across 2010, an average of 37% of all searches by consumers on unbiased.co.uk were for an independent financial advisor (IFA) specialising in retirement planning, and this reached a peak of 42% in October last year.

Meanwhile, equity release inquiries appeared to grow as the year progressed. For the full year, equity release accounted for just 4% of total inquiries, ranking in ninth place. However, in November, it had risen to seventh on the list, accounting for 5% of inquiries.

Similarly, Unbiased.co.uk’s Mortgage Advice Drivers report for the year ranked equity release in fifth place with 8% of all mortgage-related inquiries. However, by December, equity release accounted for 11% of all mortgage-related inquiries.

Karen Barrett, chief executive of unbiased.co.uk, commented: “The volume of consumer searches shows there has been a constant demand for independent financial advice throughout 2010. 
“With expected changes to pensions and benefits, and the recent VAT increase, we anticipate that even more consumers will be looking to reassess their finances in 2011.”